Get one lakh rupees advance from EPFO: The central government has not yet transferred the interest money to the accounts of PF employees. All PF employees are eagerly waiting for this amount. There is news that the government is planning to deposit the interest money in the EPF account soon.
EPFO new rules: The Employees' Provident Fund Organization (EPFO) keeps changing many rules from time to time so that employees do not face any kind of problem. The central government has not yet transferred the interest money to the accounts of PF employees.
All PF employees are eagerly waiting for this amount. There is news that the government is planning to deposit interest money in the EPF account soon. According to media reports, the interest money will soon come into the account from EPFO. About 7 crore employees will benefit from this.
EPFO has not yet officially shared any information regarding the payment of interest amount. According to media reports, the interest amount will be credited to the account in September.
At the same time, EPFO has provided the facility of auto-mode settlement for advance claims for medical, education, marriage and housing. PF account holders with more than 6 crores can avail this facility. Earlier, it used to take 15 to 20 days for the EPFO to complete the claim, but now it takes only 3 to 4 days. Now under a new system, all the information is checked quickly and the claim money is soon transferred to people's accounts.
Who can claim?
Auto mode was introduced in April 2020, but at that time money could be withdrawn only during illness. However, now its scope has increased. Money can also be withdrawn from EPF for illness, education, marriage and buying a house. Also, if any brother or sister gets married in the family, then also they can withdraw advance money without any hassle.
How much money can you withdraw?
Now advance fund of up to Rs 1 lakh can be withdrawn from EPF account, whereas earlier this limit was only up to Rs 50 thousand. Advance fund can be withdrawn through auto settlement mode on computer, for this no approval is required from anyone. The money reaches your account within three days, which is the best thing.
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